DDFO vs. MLPB
DDFO (Innovator Equity Dual Directional 15 Buffer ETF - October) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both exchange-traded funds - DDFO is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust, while MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index. Both are passively managed. At a correlation of -0.12, they often move in opposite directions. DDFO charges 0.79%/yr vs 0.85%/yr for MLPB.
Performance
DDFO vs. MLPB - Performance Comparison
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Returns By Period
In the year-to-date period, DDFO achieves a 4.46% return, which is significantly lower than MLPB's 19.99% return.
DDFO
- 1D
- 0.11%
- 1M
- 0.94%
- 6M
- 4.08%
- YTD
- 4.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MLPB
- 1D
- -0.27%
- 1M
- 1.21%
- 6M
- 17.31%
- YTD
- 19.99%
- 1Y
- 20.64%
- 3Y*
- 20.95%
- 5Y*
- 19.39%
- 10Y*
- 8.13%
DDFO vs. MLPB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DDFO Innovator Equity Dual Directional 15 Buffer ETF - October | 4.46% | 1.91% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 19.99% | 3.06% |
Correlation
The correlation between DDFO and MLPB is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025 | -0.12 |
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Return for Risk
DDFO vs. MLPB — Risk / Return Rank
DDFO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MLPB
DDFO vs. MLPB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - October (DDFO) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DDFO | MLPB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.15 | — |
| Martin ratioReturn relative to average drawdown | — | 5.61 | — |
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Drawdowns
DDFO vs. MLPB - Drawdown Comparison
The maximum DDFO drawdown since its inception was -2.79%, smaller than the maximum MLPB drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for DDFO and MLPB.
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Drawdown Indicators
| DDFO | MLPB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.79% | -71.93% | +69.14% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.68% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.41% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.93% | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.47% | +4.47% |
Average DrawdownAverage peak-to-trough decline | -0.39% | -14.74% | +14.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.70% | — |
Volatility
DDFO vs. MLPB - Volatility Comparison
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Volatility by Period
| DDFO | MLPB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.61% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.90% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.53% | 14.02% | -9.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.53% | 19.87% | -15.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.53% | 27.18% | -22.65% |
DDFO vs. MLPB - Expense Ratio Comparison
DDFO has a 0.79% expense ratio, which is lower than MLPB's 0.85% expense ratio.
Dividends
DDFO vs. MLPB - Dividend Comparison
DDFO has not paid dividends to shareholders, while MLPB's dividend yield for the trailing twelve months is around 5.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DDFO Innovator Equity Dual Directional 15 Buffer ETF - October | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.84% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% |
Frequently Asked Questions
DDFO and MLPB have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DDFO is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DDFO is cheaper with a 0.79% expense ratio, compared with 0.85% for MLPB.
MLPB has the higher dividend yield at 5.84%, compared with 0.00% for DDFO.
DDFO is categorized as Defined Outcome, while MLPB is MLPs. DDFO tracks SPDR S&P 500 ETF Trust, while MLPB tracks Alerian MLP Infrastructure Index. They also come from different issuers: Innovator and UBS. Their fees differ too: 0.79% for DDFO and 0.85% for MLPB.
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